Making changes within your RRSP from the US

Zorb
New Member



Joined: 16 May 2008
Posts: 1
Location: Houston

Posted: Fri May 16, 2008 5:08 am

 

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I am a Canadian living in the States and want to sell off some of my mutual funds and buy stock within my RRSP. All of my current RRSP portfolio is held within a mutual fund company who can not trade stock. Can any one direct me to a bank,trading house or any financial institution who I could transfer a portion of my portfolio over to, in order to be able to make such a deal.

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Steven
CanuckAbroad VIP



Joined: 28 Sep 2007
Posts: 1011
Location: Calgary

Posted: Mon May 26, 2008 8:12 pm

 

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Depends on your tax status. If you're still filing a T1 in Canada you can just look up the different banks, ING etc. who offer different RRSP options. If you've moved your tax home to the US (i.e. you file a 1040 instead of a 1040NR and no longer file a T1 in Canada) then doing anything with your RRSP is really complex because technically it's a foreign asset and you'd be better off moving it over gradually to a 401(k).
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Steve.

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